President Obama signed an executive order giving the Treasury Department new authority to tighten sanctions on Iran and Iran and Syria.
The president signed sanctions to penalize anyone who ignores the Treasury Departments sanctions on Iran and Syria and the Treasury Department can now publicly identify anyone who tries to trade with the two countries.
New penalties include barring access to U.S. financial and commercial systems. Despite the sanctions Iran and Syria recently tried to use non-bank financial institutions to transmit funds and make payments.